Summit Street Capital Management LLC Purchases New Stake in Buckle, Inc. (The) $BKE

Summit Street Capital Management LLC acquired a new position in shares of Buckle, Inc. (The) (NYSE:BKE) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 271,903 shares of the company’s stock, valued at approximately $11,474,000.

Several other hedge funds have also recently bought and sold shares of BKE. BlackRock Inc. bought a new stake in shares of Buckle during the 2nd quarter worth approximately $208,888,000. Bank of New York Mellon Corp bought a new position in Buckle in the second quarter valued at approximately $27,466,000. Amundi increased its stake in Buckle by 676.9% in the fourth quarter. Amundi now owns 421,200 shares of the company’s stock valued at $22,501,000 after acquiring an additional 366,986 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Buckle by 44.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company’s stock valued at $55,746,000 after purchasing an additional 323,361 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in Buckle by 1,066.8% during the first quarter. Lazard Asset Management LLC now owns 297,594 shares of the company’s stock valued at $14,987,000 after purchasing an additional 272,088 shares in the last quarter. 53.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BKE has been the topic of a number of research analyst reports. UBS Group reaffirmed a “neutral” rating on shares of Buckle in a report on Monday. Weiss Ratings cut Buckle from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, August 14th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $46.00.

Insider Transactions at Buckle

In other Buckle news, Director Bill L. Fairfield sold 2,500 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $44.44, for a total value of $111,100.00. Following the completion of the transaction, the director directly owned 52,908 shares in the company, valued at approximately $2,351,231.52. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 38.40% of the stock is currently owned by insiders.

Buckle Price Performance

Shares of Buckle stock opened at $44.12 on Thursday. The company’s 50 day moving average price is $43.61 and its two-hundred day moving average price is $48.26. The firm has a market capitalization of $2.27 billion, a P/E ratio of 10.17 and a beta of 1.10. Buckle, Inc. has a fifty-two week low of $40.73 and a fifty-two week high of $61.69.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, August 21st. The company reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.81 by $0.06. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The company had revenue of $319.82 million during the quarter, compared to the consensus estimate of $319.80 million. During the same period in the prior year, the business earned $0.89 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year.

Buckle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th were given a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.2%. Buckle’s payout ratio is currently 32.26%.

About Buckle

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.